Market Size of Middle-East and Africa Distributed Solar Power Generation Industry
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2021 - 2022 |
| CAGR | > 6.50 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
MEA Distributed Solar Power Generation Market Analysis
The Middle-East and Africa Distributed Solar Power Generation Market is expected to register a CAGR of more than 6.5% during the forecast period.
The market was negatively impacted by COVID-19 in 2020. Currently. The market has reached pre-pandemic levels.
- Over the long term, increasing demand for clean electricity and the impetus to shift from conventional power generation sources, such as diesel and gas gen-sets, in the face of rising fossil fuel prices to power off-grid electricity requirements with sources such as distributed solar is expected to help the distributed solar power generation market grow.
- On the other hand, the higher costs of distributed solar energy due to complete dependence on solar PV hardware imports are expected to restrain costs during the forecast period.
- Nevertheless, the innovation of new technologies, the upcoming solar power projects, and the use of hybrid power solutions in this region can create immense opportunities for distributed solar power generation market in the near future.
- Saudi Arabia is expected to witness significant demand due to various government initiatives to promote renewable energy projects, particularly solar energy-based projects, in the country during the forecast period.
